whether all the income of society registered as marketing society are exempt???
1 income like interest from co op banks
2 income or commission gained from selling items to poor like wheat rice
3. income from selling empty bags of wheat and rice
Income of PDS (marketing society)
Replies (1)
1. It is exempt u/s. 80(p) of the act.
Sec. 80P deduction is available only to primary agricultural credit society or primary co-operative agricultural and rural development bank.
2. & 3 Both Taxable provided over & above basic exemption limit...
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